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Leonardo Maugeri

Mailing address

124 Mt. Auburn Street Suite 190, Room 112
124 Mt Auburn Street
Mailbox 117
Cambridge, MA, 02138

Leonardo Maugeri

Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

Contact:
Email: leonardo_maugeri@hks.harvard.edu

 

Experience

Leonardo Maugeri is currently an Associate with the Geopolitics of Energy Project and the Environment and Natural Resources Program at the Harvard Kennedy School's Belfer Center for Science and International Affairs.

One of the world's foremost experts on oil, gas, and energy, Maugeri has been one of the most distinguished top managers of Eni, the largest Italian company, which is also ranked number 6 among the largest international oil companies. At Eni, he held the position of Senior Executive Vice President of Strategies and Development (2000–2010) and eventually became Executive Chairman of Polimeri Europa, Eni's petrochemical branch (March 2010–June 2011). In 2008, Maugeri promoted the strategic alliance between Eni and the Massachusetts Institute of Technology (MIT), which—among other outcomes—led to the establishment of the Eni-MIT Solar Frontiers Center in 2010.

Maugeri is recognized worldwide for his books and seminal articles about energy, as well as for his part-time activity as a lecturer in some of the most prestigious universities and think-tanks. Since the early 2000s, he was among the few who affirmed that the world's oil was neither running out nor approaching its "peak-production." He was also among the few who predicted the revolution of shale-gas and tight oil.

He has published four books on energy, among them, The Age of Oil: the Mythology, History, and Future of the World’s Most Controversial Resource (Praeger, 2006), which earned the Choice Price in the United States in 2007 and was translated into eleven languages. His latest book—Beyond the Age of Oil: The Myths and Realities of Fossil Fuels and Their Alternatives—was published in the United States in March 2010.

Mr. Maugeri has also written several articles that appeared in Foreign Affairs, Science, Newsweek, The Wall Street Journal, Forbes, Scientific American, Oil & Gas Journal, and The Review of Environmental Economics and Policy.

Mr. Maugeri has been a Visiting Scholar at MIT (2009–2010) and a member of MIT's External Energy Advisory Board. He also serves as an International Counselor of the Center for Strategic and International Studies (Washington, D.C.) and as a member of the Global Energy Advisory Board of Accenture, and he is a senior fellow of the Foreign Policy Association (New York).

 

 

By Date

 

2014

AP Images

November 19, 2014

"Why Low Oil Prices Could Make Russia's Putin Even More Combative"

Op-Ed, The Street

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

If history is any guide, Vladimir Putin's iron grip on Russia could be threatened by the lowest oil prices in a decade. It also partly explains his increasingly belligerent stance toward the West. 
 

 

 

AP Images

November 11, 2014

"Oil prices could go even lower, Harvard economist says"

Q&A

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

Italian energy economist Leonardo Maugeri has been getting attention lately for his 2012 prediction that growing oil supply capacity “could lead to a glut of overproduction and a steep dip in oil prices.” In October, he declared victory. In an interview, the associate at Harvard’s Belfer Center told the Globe how he made his forecast and how long low oil prices could last.

 

 

AP Images

October 2014

"Europe Needs a Strategic Gas Reserve"

Op-Ed, World Energy Opinion

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

Due to the tensions between Russia and Ukraine, as well as to the instability of Libya, the EU is facing once again a high level of energy vulnerability that proves how poor and inconsistent its energy policies have been. For almost 15 years now, Brussels has been devoting its efforts to liberalizing the downstream energy market, aiming in particular at fostering competition in gas distribution and power generation. It also set rigid standards in order to cut greenhouse gas emissions by 2020, strongly supporting the development of renewables. Coupled with the economic crisis, these actions have created excess capacity in gas distribution and power generation, which in turn has brought investors in these sectors to their knees, without offering a solution to the underlying security problem: Absent abundant and competitive supply, the European gas market remains at the mercy of those that control the raw material.

 

 

October 21, 2014

"The Oil Crash: Why I Was Right"

Newsletter

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

In my 2012 study “Oil, the Next Revolution”, I stressed something that no one was seeing at that time (and much later as well). As summed up by the opening sentence of the study:

“Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption. This could lead to a glut of overproduction and a steep dip in oil prices.”

 

2013

Sylvia Duckworth

September 30, 2013

"An Uphill Climb for the Oil Giants"

Op-Ed, New York Times

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

The big international oil companies are going through a crisis little noticed by analysts and the markets. It is a crisis of results and of vision.

Simply put, the majors — companies like Exxon Mobil, Royal Dutch Shell and BP — aren’t growing. They have discovered relatively little oil in recent years despite increasing investment. They also have lost their exclusive lock on the skills that made them indispensable to oil-producing countries.

 

 

Wiki Commons

September 30, 2013

An Uphill Climb for the Oil Giants

Op-Ed, New York Times

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

The big international oil companies are going through a crisis little noticed by analysts and the markets. It is a crisis of results and of vision.

 

 

AP Images

June 2013

"The U.S. Shale Oil Boom: Potential Impacts and Vulnerabilities of an Unconventional Energy Source"

Policy Brief

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

A new study by Belfer Center Geopolitics of Energy researcher Leonardo Maugeri finds that oil production capacity is surging throughout the world, but the United States in particular will experience unprecedented output as a result of technological advances and some unique attributes. This increased production will not be without challenges, however, as the drilling industry adapts to this relatively new method and overall output depending greatly on price stability. In the end, the U.S. may yet still import oil from other countries. The findings by Maugeri, a former oil industry executive who is now a fellow at Harvard Kennedy School’s Belfer Center, are based on an original field-by-field analysis of the world’s major oil formations and exploration projects.

 

 

AP Images

June 2013

"The Shale Oil Boom: A U.S. Phenomenon"

Discussion Paper

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

A study just released by Belfer Center researcher Leonardo Maugeri finds that the shale oil revolution taking place in the United States could result in the tripling of shale oil output to five million barrels a day by 2017, likely making the U.S. the top oil producer in the world in just a few years. The study by Maugeri, a Roy Family Fellow working with the Belfer Center's Geopolitics of Energy project, looked at whether the surge in shale oil production is just a temporary bubble or an event capable of significantly altering the U.S.—and possibly global—energy outlook.

 

2012

November 20, 2012

"The IEA's Poor Performance and the Risks of an Era of Oil Abundance"

Op-Ed

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

"Although quite late, the International Energy Agency (IEA) has noticed that American crude oil production is increasing at an unprecedented rate, and that it will continue to do so. In a report published only one year ago, the Agency had largely underestimated the phenomenon, as had many others....In its new World Energy Outlook 2012, the IEA now expects that the US will produce 11.1 million barrels per day....But the IEA numbers suffer from more than tardiness," writes Leonardo Maugeri, a former senior executive at Eni and current fellow with the Belfer Center's Geopolitics of Energy Project

 

 

November 6, 2012

"The Coming Oil Glut"

Op-Ed, Wall Street Journal

By Leonardo Maugeri, Associate, Environment and Natural Resources Program/Geopolitics of Energy Project

"The price of oil continues to be set by fear, not by supply and demand," writes Leonard Maugeri. "World-wide oil production is growing quickly. By the end of the year, it will probably surpass 92 million barrels per day, with additional spare capacity of more than 3.5 million barrels. Thanks to the shale oil revolution, U.S. crude production could exceed 6.5 million barrels per day by the end of the year: around one million more barrels than the U.S. Energy Information Administration predicted in January."

 

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